Abstract
Overview
Due to the confusion and fear of consumers, identity fraud protection services
are a marketer' s dream: three out of four consumers believe that identity
fraud is on the rise, despite steady declines in the crime over the past three
years. The industry has responded to this growing awareness and concern with
an array of direct-to-consumer services, such as credit monitoring, fraud
alerts, data mining and most recently, credit freezes. This report provides a
comprehensive assessment of the primary identity safety services, building
upon robust consumer survey data on preferences, behaviors and attitudes.
Leveraging qualitative data from in-depth vendor interviews, an analysis of
the leading identity protection service providers is also featured, including,
among others, Equifax, Experian, TransUnion, Fair Isaac, LifeLock, Debix,
FraudStop (Identity Safeguards), Identity Guard (Intersections) and TrustedID.
Primary Questions
- What are the five factors that will determine success in this market space?
- What are the overall measures of impact of new accounts fraud?
- How many consumers are using credit monitoring services, fraud alerts and
credit freezes?
- Which services provide the best value, both for consumers and for
financial institutions from the partnership perspective?
- Which vendors are major players in the identity fraud protection services
market, and what is the competitive differentiation for each provider?
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